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Aug 5, 2015
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manus: and i am manus cranny. we are joined by ubs senior economic adviser, george magnus. francine: france's second-biggest bank has posted its second -- its second -- its biggest profit since 2007. manus: she spoke exclusively to the banks ceo. this performance driven by trading. the capital is building as well. investors like the story of the decision this morning. the shares are opening 9%. they like they say it -- they like the story of cost saving. nextillion euros for the two years. of capitalhe raising targets. their ratio came out for the second quarter. from 10.1% last quarter. they are planning to raise this target to 11% by the end of 2016. i sat down exclusively with the ceo and asked 10 how he could explain his performance in the second quarter. >> we actually have a strong set of results across the board. close to 9% organically. we also have lower cost of risk. underlying profitability of 10.3%. >> france and europe, would you say the recovery is still fragile? >> i would say it is more progressive. -- europe [indiscernible] a low euro versus the dollar. low
manus: and i am manus cranny. we are joined by ubs senior economic adviser, george magnus. francine: france's second-biggest bank has posted its second -- its second -- its biggest profit since 2007. manus: she spoke exclusively to the banks ceo. this performance driven by trading. the capital is building as well. investors like the story of the decision this morning. the shares are opening 9%. they like they say it -- they like the story of cost saving. nextillion euros for the two years. of...
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Aug 26, 2015
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manus: i am curious. i want to go back to your statement which is that lower rates for longer, good for consumers. have beeneven years the most fearful times for the average consumer around the globe. retainer less, mortgage. i challenge what you say. i think what is happened -- 1000 point drop in dow. global growth under consent. i would not call that a good backdrop for the consumer. lorna: i think we did go in with the most tremendous pile of debt as well. it was beyond anything we have seen in 400 years of human history since interest rates first were set. i think we had a big amount of mountain of debt. borrowers being saved by savers -- actually, we are beginning to see that. we've been helped by supermarket wars, being helped by oil price. we are beginning to see consumer spend rising. francine: what is the bingle, single most important trend in advertising at the moment? t, what is the single, bigges most important trend in advertising at the moment? are we in a place where company spend in a trad
manus: i am curious. i want to go back to your statement which is that lower rates for longer, good for consumers. have beeneven years the most fearful times for the average consumer around the globe. retainer less, mortgage. i challenge what you say. i think what is happened -- 1000 point drop in dow. global growth under consent. i would not call that a good backdrop for the consumer. lorna: i think we did go in with the most tremendous pile of debt as well. it was beyond anything we have seen...
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Aug 21, 2015
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manus: worldwide selloff. global stocks had for their worst week of the year, accelerated by the poorest chinese manufacturing data since the global financial crisis. siegrist quits. the greek prime minister says he is stepping down and calls for snap elections. can he ditched the dissenters? and, ready for war. kim jong-un orders his troops to be fully armed and prepared for combat after exchange of fire with south korea. welcome to "the pulse" live from bloomberg's european headquarters in london. i'm manus cranny. let's bring you the eurozone manufacturing data. the comp is it for manufacturing comes in at 52.4. are also as numbers beat, 54.3, giving us a composite number ahead of estimates at 54.1. we are amid easing cycle in europe, so that is important to note. the euro has been trading that little bit higher. 1.1249 is where we are. that is better than the market had estimated. the composite number 54.1 beat estimates. it is a big week for markets. we've had the weakest chinese manufacturing data since
manus: worldwide selloff. global stocks had for their worst week of the year, accelerated by the poorest chinese manufacturing data since the global financial crisis. siegrist quits. the greek prime minister says he is stepping down and calls for snap elections. can he ditched the dissenters? and, ready for war. kim jong-un orders his troops to be fully armed and prepared for combat after exchange of fire with south korea. welcome to "the pulse" live from bloomberg's european...
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Aug 10, 2015
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manus: i am manus cranny. next 40 course of the minutes, we are joined by unicredit chief, it is erik nilsson in the house. francine: first, china stocks posted the biggest two day climb. manus: it rallied on news the government is considering shipping two major companies. francine: after data shows a large drop in it worse last month with the steepest decline in nearly six years. curranef economist enda joins us. what do the figures tell us about economy? enda curran: a very soft reading. some of china's biggest customers. illustrate how soft china's economy is when you strip away the impact of the big stockmarket boom we had in the second quarter. left with a lot of sluggish areas like manufacturing and factories and real estate sector. car sales falling for the first time in 17 years. to one ofn on exports the big engines of growth for china. into the second half of the year, pretty sluggish outlook right now. manus: let's talk about the currency. is it beginning to become a problem? could that be one of th
manus: i am manus cranny. next 40 course of the minutes, we are joined by unicredit chief, it is erik nilsson in the house. francine: first, china stocks posted the biggest two day climb. manus: it rallied on news the government is considering shipping two major companies. francine: after data shows a large drop in it worse last month with the steepest decline in nearly six years. curranef economist enda joins us. what do the figures tell us about economy? enda curran: a very soft reading. some...
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Aug 31, 2015
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manus: continues. that comes his federal reserve officials refuse to rule out raising interest rates next month. september is still in a table. protests over japan's production slumping. good morning to our viewers in europe. if you're just waking up in the united states. this is "the pulse." rises by 2/10on of 1%. the estimate out there was for a rise of 1/10 of 1%. bit, desperate times if you are referring to this as good news for mario draghi. the yearly rate is to 1%. the consumer price index comes in at 1%. it's been another day of drama on the asian equity markets. china stock has its biggest two-month humble. meanwhile, industrial production fell in july. we have the latest from hong kong in just a moment. first, let's bring in mark barton. let's focus. we have not started all this well on this bank holiday monday. is a long way to go before the ecb hits its target area this is just below 2%. expectations are coming down. this is something that mario draghi needs to consider. the inflation was t
manus: continues. that comes his federal reserve officials refuse to rule out raising interest rates next month. september is still in a table. protests over japan's production slumping. good morning to our viewers in europe. if you're just waking up in the united states. this is "the pulse." rises by 2/10on of 1%. the estimate out there was for a rise of 1/10 of 1%. bit, desperate times if you are referring to this as good news for mario draghi. the yearly rate is to 1%. the consumer...
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Aug 25, 2015
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manus: i'm manus cranny. we're just getting breaking news from south africa. year-on-year, francine, in the second quarter. we know the problem within south africa. on an annualized basis we have a negative number. negative 1.3%. francine: very reliant on commodities and also relying on china. we'll have the full breakdown of this g.d.p. figure with our reporter on the ground shortly. meantime here are bloomberg's other top headlines. china has halted intervention over the stock market this week according to people familiar with the situation. they are debating the merritts of the government campaign to prop up share prices. officials argue that the costs of supporting the market are too high according to a source. manus: the selloff on the cree ian peninsula is -- standoff is over, at least for the time being. the north has agreed to lift its semistagor war and the south has said it would halt broadcasting propaganda across the mutual border. francine: they still expect the first interest rate hike in a decade to come this year. he said the outlook for growth
manus: i'm manus cranny. we're just getting breaking news from south africa. year-on-year, francine, in the second quarter. we know the problem within south africa. on an annualized basis we have a negative number. negative 1.3%. francine: very reliant on commodities and also relying on china. we'll have the full breakdown of this g.d.p. figure with our reporter on the ground shortly. meantime here are bloomberg's other top headlines. china has halted intervention over the stock market this...
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Aug 17, 2015
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manus and francine? francine: manus:-- manus: is angela merkel going on a hiring spree? should i get the cv dusted off? hans: merkel's staff is looking to hire chauffeurs, drivers, household staff, as well as civil engineers. it gets at the diverging economy some data out thursday and friday last week. some muted growth in germany. elsewhere it looks grim. how greece impacts a third quarter in germany is a key question, how china fx germany is a key question. and a lot of negativity we saw in greece did not happen to the beginning of third quarter. second quarter numbers did not capture it. it does look like they will be spending a little bit more at the chancellery. francine: hans nichols in berlin. our next guest believes greek debt needs to be restructured to low rates for a long period of time. welcome to "the pulse." debt restructuring, will it happen? it will. the situation at the moment is unsustainable. something that is unsustainable comes to an end at some point. will it happen this week or next week? that is a political question for angela merkel and the europ
manus and francine? francine: manus:-- manus: is angela merkel going on a hiring spree? should i get the cv dusted off? hans: merkel's staff is looking to hire chauffeurs, drivers, household staff, as well as civil engineers. it gets at the diverging economy some data out thursday and friday last week. some muted growth in germany. elsewhere it looks grim. how greece impacts a third quarter in germany is a key question, how china fx germany is a key question. and a lot of negativity we saw in...
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Aug 18, 2015
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manus: i'm manus cranny a very good day to you. china's stocks have slumped from the highest level in three weeks. the benchmark index sank6% following concerns that the government will pare back efforts to prop up the equity market. after a drop in interest rates and removal of property restrictions. economics chief asia correspondent is in hong kong. mini rout?ket is this the rerun of a big run? enda: it is early days to tell whether we are going for another. it's certainly a correction. it has come about because we had some good numbers today. we had some data. that is interesting when you consider the big stock markets we had in june. it kind of illustrates perhaps the net effect on wealthy consumer confidence with what -- was much less than people anticipated. we will need to see more durable prices before calling a turn in the housing sector and before calling a turn in the economy. francine: what does it mean for the wider economy? how much can we read into this? enda: one of the recent stocks fell today was people were supp
manus: i'm manus cranny a very good day to you. china's stocks have slumped from the highest level in three weeks. the benchmark index sank6% following concerns that the government will pare back efforts to prop up the equity market. after a drop in interest rates and removal of property restrictions. economics chief asia correspondent is in hong kong. mini rout?ket is this the rerun of a big run? enda: it is early days to tell whether we are going for another. it's certainly a correction. it...
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Aug 12, 2015
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manus: and i'm manus cranny. over the course of the next 40 minutes, we are joined by hsbc advisor stephen king. francine: first, china's yuan has triggered the biggest two-base hit law since 1998, fueling concerns that market volatility will slow growth. manus: the people's bank of china lover the reference right today, just one day after cutting it by a record 1.9%. let's find out how the markets are reacting. dollar-yuan.d you i'm going to show you the flipside today, yuan-dollar. effect,u get the down which is more important. the yuan sinking for a second day. the two-day drop, 3.61%. that is the biggest two-they drop since 1994. ripple effects are being felt across global markets. china's central bank says there is no economic or financial basis for the exchange rate to fall continuously. i'll let mr. king decide whether that is the case. a ripple effect is being felt in bond, commodity, and stock markets. look at the msci emerging market index. i showed you a one-year chart. was ther, september 3 peak for t
manus: and i'm manus cranny. over the course of the next 40 minutes, we are joined by hsbc advisor stephen king. francine: first, china's yuan has triggered the biggest two-base hit law since 1998, fueling concerns that market volatility will slow growth. manus: the people's bank of china lover the reference right today, just one day after cutting it by a record 1.9%. let's find out how the markets are reacting. dollar-yuan.d you i'm going to show you the flipside today, yuan-dollar. effect,u...
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Aug 20, 2015
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manus: i'm manus cranny. coming up later, the strong frank puts pressure on swiss employers. we will be speaking to the countries economy minister johann schneider-ammann. at 10:10 a.m. francine: first this morning, minutes from the fed's in july show janet yellen and officials are concerned about low inflation is. in improving job market is bringing them closer to the first interest rate increase in a decade to manus: mike mckee has been taking a closer look. mike: it is all about inflation now. teresad officials met go, most judge the conditions for policy farming had not yet been achieved, but they noticed that conditions were approaching that point. what was missing? prices what continue to move up. to seembers continued downside risks from the possibility of further dollar appreciations and declined to commodity prices. in addition, several noted tighter legal markets -- labor markets had not yet pushed up wages. theyt all members indicate would need to see more evidence that economic growth was sufficiently strong for them to feel confident inflation would return to the
manus: i'm manus cranny. coming up later, the strong frank puts pressure on swiss employers. we will be speaking to the countries economy minister johann schneider-ammann. at 10:10 a.m. francine: first this morning, minutes from the fed's in july show janet yellen and officials are concerned about low inflation is. in improving job market is bringing them closer to the first interest rate increase in a decade to manus: mike mckee has been taking a closer look. mike: it is all about inflation...
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Aug 24, 2015
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manus: i am manus cranny. our top headlines. the week is likely to see the start of a greece's election campaign. will first get an attempt at form of the government three days after creating a new political party. one of the parties' key players acknowledge an agreement unlikely. greeks are expected to head to the ballot box in september. for the bank brent crude and slipped below 40 five dollars a barrel for the first time since 2009. -- $45 a barrel for the first time since 2009. it drop more than 7% last week. manus: the global selloff is steepening. emerging-market currencies have dropped to the weakest levels on record. commodity prices have hit a 16 year low. francine: the latest on the market moves with caroline hyde. it is a bloodbath. caroline: it is, five trillion dollars worth of valuation. and it keeps going. completely andre is a read. not one single stock rising on the dax. it is a bear market. 40% lower than the highs previous of this year. folic utilities. the key area of concern is global growth. -- falling uti
manus: i am manus cranny. our top headlines. the week is likely to see the start of a greece's election campaign. will first get an attempt at form of the government three days after creating a new political party. one of the parties' key players acknowledge an agreement unlikely. greeks are expected to head to the ballot box in september. for the bank brent crude and slipped below 40 five dollars a barrel for the first time since 2009. -- $45 a barrel for the first time since 2009. it drop...
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Aug 27, 2015
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manus: i am manus cranny. china's government has intervened to boost the stock markets. shares and shanghai finished up more than 5%, ending the worst five-day rout since 1996. european equity markets tracking the biggest one-day gain in the u.s. equity market in four years. reserve: the federal dialing back expectations after dennis lockhart said they china slowdown and oil slump are complicating the outlook. statement,eduled bill dudley said the case for an early rise is becoming less convincing. prime the outgoing greek minister has ruled out leading a coalition with opposition parties. next month'so win snap election. part itsays his syriza would not put together a government with parties that supported him. tsipras did not rule out a government of national unity, just that he would be prime minister. francine: let's check in on the markets. 10:30 london time. we had quite a lot of breaking news. headline the china explains the aggressive rally on the shanghai composite. a rally fueled by soothing words , pushing backley potentially closing a window on a rate hike. e
manus: i am manus cranny. china's government has intervened to boost the stock markets. shares and shanghai finished up more than 5%, ending the worst five-day rout since 1996. european equity markets tracking the biggest one-day gain in the u.s. equity market in four years. reserve: the federal dialing back expectations after dennis lockhart said they china slowdown and oil slump are complicating the outlook. statement,eduled bill dudley said the case for an early rise is becoming less...
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Aug 11, 2015
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manus: and i'm manus cranny. francine: an e.u. official says greece and creditors have agreed o terms for a third bailout. a meeting is scheduled for friday. manus: google is reorganizing into a new company called alphabet. it gives the the search engine and youtube more independence. greater visibility into plans to expand new businesses. francine: shares slumped in afterhours trading. japan's return to atomic energy more than four years after the fukushima disaster. protesters camped outside the facility. manus: china has unexpectedly devalued the yuan by the most in two decades. they cut the daily peg to the u.s. dollar by a record 1.9%. the move triggered the yuan's biggest one-day loss since 1994. let's get a little bit more on those markets and the moves. johnny has it all. john? jonathan: that china story, painting this equities map blanket red. the ftse in italy, half a 1% on the ibex in spain. the dax and in frankfurt down over 1%. the cac 40rks some significant losses there as well. if you're just waking up on wall stree
manus: and i'm manus cranny. francine: an e.u. official says greece and creditors have agreed o terms for a third bailout. a meeting is scheduled for friday. manus: google is reorganizing into a new company called alphabet. it gives the the search engine and youtube more independence. greater visibility into plans to expand new businesses. francine: shares slumped in afterhours trading. japan's return to atomic energy more than four years after the fukushima disaster. protesters camped outside...
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Aug 14, 2015
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manus: let's move to the u.k. now. papers are being mailed out to support for the labour party today. this is for a leadership contest that will determine the future of the party. francine: for more, we are joined by svenja o'donnell and the man who beat the pollsters in may's general election when he predicted a conservative win and is now saying that jeremy corbyn will lose this labor vote. thank you so much for joining us. this is huge. this is important because this gives labor a chance to actually beat the conservatives next time around. svenja: absolutely. this decides the next general election. that is why you had big labor figures such as tony blair say, if you but jeremy corbyn, labor is dead for 100 years. this is no accident. people feel labor has lost its way. yn are like jeremy corb seen as a voice of real people, real policies. whether that translates in government is different issue. manus: matt, you are one of the men that predicted the conservatives would win. what is telling you that jeremy corbyn is
manus: let's move to the u.k. now. papers are being mailed out to support for the labour party today. this is for a leadership contest that will determine the future of the party. francine: for more, we are joined by svenja o'donnell and the man who beat the pollsters in may's general election when he predicted a conservative win and is now saying that jeremy corbyn will lose this labor vote. thank you so much for joining us. this is huge. this is important because this gives labor a chance to...
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Aug 13, 2015
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manus: i'm manus cranny. our top headlines. 40. 4 people are reported to have been killed in the chinese port of tianjin. they have been following a file in the store of hazardous chemicals. hundreds more people are have to have been hurt. the port city has become a gateway to northern china for shipment's of commodities and goods. it also is the home to manufacturing operations for a company including airbus. francine: greek lawmakers will today vote on a series of reforms to release an 85 billion euro aid package. germany claims the plan is withholdings of -- is incomplete, saying a bridge loan could be an option if an agreement cannot be made in time for payment to the ecb next week. manus: people's bank of china lowered the rate by 1.1%. pboc said in a statement today that this week's move represent as reformer's to give the market a greater role in setting the exchange rate. francine: now let's check in on the markets. we have had a lot of currency moves the last couple days. mark. the complete, it's inv
manus: i'm manus cranny. our top headlines. 40. 4 people are reported to have been killed in the chinese port of tianjin. they have been following a file in the store of hazardous chemicals. hundreds more people are have to have been hurt. the port city has become a gateway to northern china for shipment's of commodities and goods. it also is the home to manufacturing operations for a company including airbus. francine: greek lawmakers will today vote on a series of reforms to release an 85...
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Aug 28, 2015
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manus: i am manus cranny. according to the office of national statistics number, exports picked up three point 9%, making it the biggest quarterly contribution to gdp in four years. it is nice and investment increased 2.9% on the quarter, the most in a year. these are the second revision and leaves the headline ticker unchanged. francine: chinese stocks have rallied for a second day on speculation that authorities are propping up markets ahead of the next week. they have increased the most in five months. 0.9%, greek gdp rose by making it one of the fastest growing economies in europe. adjust the gdp, that is up 1.7% from a year ago. the leader of the country's river party told bloomberg the country could face more elections, and he warns that a refusal from alexis force voters back to the polls again. a pocket-sized device is used by small businesses like straight market vendors. another round of financing. the founder joins us from stockholm in an exclusive interview. it is great to have you on "the pulse."
manus: i am manus cranny. according to the office of national statistics number, exports picked up three point 9%, making it the biggest quarterly contribution to gdp in four years. it is nice and investment increased 2.9% on the quarter, the most in a year. these are the second revision and leaves the headline ticker unchanged. francine: chinese stocks have rallied for a second day on speculation that authorities are propping up markets ahead of the next week. they have increased the most in...
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Aug 4, 2015
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manus: the u.k. government has started to sell off its stake in the royal bank of scotland to it raised two point one billion pounds by offloading 5.4% of its shares. george osborne is taking a loss as he tries to revive investor appetite in the bank seven years after became britain's biggest casualty of the financial crisis. francine: now, let's get more on issuednd the rbs ceo has a statement saying "i am please the government has started to sell down its stake. it is an important moment and reflects the progress we are making to become a stronger, simpler, and fairer bank. there is more work to be done but we are determined to determine -- to build a bank the country can be proud of." manus: this was something that was warned about by the chancellor a couple of weeks ago. we's taking a loss. this is a bit of a gamble. public opinion, yes. the chancellor does not seem to mind. the tried to lay groundwork. he said in june that he had adi cievice from mark carney and from rothschild which advised tha
manus: the u.k. government has started to sell off its stake in the royal bank of scotland to it raised two point one billion pounds by offloading 5.4% of its shares. george osborne is taking a loss as he tries to revive investor appetite in the bank seven years after became britain's biggest casualty of the financial crisis. francine: now, let's get more on issuednd the rbs ceo has a statement saying "i am please the government has started to sell down its stake. it is an important moment...
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Aug 3, 2015
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manus cranny, good morning. manus: heineken revenue comes in . first half revenue was estimated to be hundred 7 million. of course think africa, middle east asia. 25% of the revenue comes from -- let's get you more net numbers. a dividend of $.44. you are seeing a bid on the numbers there. in terms of breaking it down, it is taking a little bit of time to get that you are free -- geography broken down here. these are solid results. it demonstrates further progress. it is very much ranking on the emerging markets. the pressure for heineken is the price of oil. it is impacting demand levels in nigeria. you also have issues about trying to get control in the emerging markets. 1.5 billion. anna: we will be speaking later on. what are the challenges you need to be asking? we have gone through some of the headlines. manus: a couple of different things. the value of the euro has dropped. allow them to grab more market share. how do you close that cap? that is the critical issue. will they use the euro currency moving forward? they are making big bets on
manus cranny, good morning. manus: heineken revenue comes in . first half revenue was estimated to be hundred 7 million. of course think africa, middle east asia. 25% of the revenue comes from -- let's get you more net numbers. a dividend of $.44. you are seeing a bid on the numbers there. in terms of breaking it down, it is taking a little bit of time to get that you are free -- geography broken down here. these are solid results. it demonstrates further progress. it is very much ranking on...
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Aug 3, 2015
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manus: francine: manus, thank you. let's cross over to hans nichols in athens. the market tumbled more than 20%. we weren't quite expecting this. hans: we were expecting a great deal of volatility. we are expecting more volatility. some of the members are saying the numbers we get for the first few minutes aren't necessarily going to be accurate. these are a liquid moves. we have a lot of sellers. we don't have buyers. the restrictions are on the buyers. greek buyers are restricted on what sort of cash they can use to purchase shares. the ministry of finance wants to use this athens exchange and make sure that it doesn't turn into a backdoor for capital flight. we see the bank stocks down 30%. we saw the overall exchange down close to 23%. we have to not only look to see where it ends this afternoon, but also in a couple days. once everything sorts its way out, there's a lot more volatility. we can expect a lot more volatility throughout the day and the week. francine: what restrictions are in place now that the market has reopened? you were mentioning them. it
manus: francine: manus, thank you. let's cross over to hans nichols in athens. the market tumbled more than 20%. we weren't quite expecting this. hans: we were expecting a great deal of volatility. we are expecting more volatility. some of the members are saying the numbers we get for the first few minutes aren't necessarily going to be accurate. these are a liquid moves. we have a lot of sellers. we don't have buyers. the restrictions are on the buyers. greek buyers are restricted on what sort...
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Aug 21, 2015
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manus: i like that. mark: there is your complement of the day. manus: i should probably cherish it. now we have it on tape. mark: what have we got today? the charts are quite staggering -- the chickens have come home to roost in terms of what china is slowing. a fantastic article on the repercussions for oil in saudi arabia, the social and economic ramifications. those charts are only yet being understood. greece may not matter economically. it is all part of the big plan -- don't worry about it. if part of a construction. we will be speaking about greece, tsipras's chess move. if power corrupts and absolute power absolutely corrupts, there will be no dissent. i won't tolerate any dissents. mark: he said earlier that the point of syriza was di ssent. manus: call me old-fashioned but they aren't that rabid. then you get back to the idea of power corrupts. it is moot, not a subjective opinion. mark: syriza have now realized that. manus: we thought austerity -- we fought austerity and austerity won. economist forief the -- mark: a mixed bag. france's disappointing that germany -- manus
manus: i like that. mark: there is your complement of the day. manus: i should probably cherish it. now we have it on tape. mark: what have we got today? the charts are quite staggering -- the chickens have come home to roost in terms of what china is slowing. a fantastic article on the repercussions for oil in saudi arabia, the social and economic ramifications. those charts are only yet being understood. greece may not matter economically. it is all part of the big plan -- don't worry about...
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Aug 19, 2015
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manus is at manus cranny. have a great day, everyone. ♪ announcer: this is "bloomberg surveillance." tom: good morning, everyone. "bloomberg surveillance." vietnam devalues there to currency -- vietnam devalues the currency. roman sachsen morgan stanley doubt the fed will -- goldman sachs and morgan stanley doubt the fed will act. we discuss in minutes. someamerican consumers -- shop and some do not. good morning, everyone. this is "bloomberg surveillance ," live from our world headquarters in new york. it is wednesday, august 19. i'm tom keene. joining me, brendan greeley and vonnie quinn. brendan: they are making the case in front of the bundestag. we will talk with hans nichols in a second. angela merkel will not talk. we think she will put it on wolfgang schauble. we are not worried about whether this passes. the greek it will pass. we are looking at how many members of her party defect. president like the and joer
manus is at manus cranny. have a great day, everyone. ♪ announcer: this is "bloomberg surveillance." tom: good morning, everyone. "bloomberg surveillance." vietnam devalues there to currency -- vietnam devalues the currency. roman sachsen morgan stanley doubt the fed will -- goldman sachs and morgan stanley doubt the fed will act. we discuss in minutes. someamerican consumers -- shop and some do not. good morning, everyone. this is "bloomberg surveillance ," live...
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Aug 13, 2015
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manus: they would like to see a slow drift. they sort of yankton into sixth gear and ripped up the highway. jonathan: soothing words from the people's bank of china. manus, thank you very much. these are the numbers that matter. gdp. a.m. u.k. time, greek 12:30.ting minutes at , the --ail sales economist have not been proved yet with a number that shows a real improvement. that number comes that 1:30 p.m. u.k. time. a two day route that touched almost everything, equities rebounding here in europe. the 5100 is up three quarters of 1%. we come back, we are up by 160 points. that is it for me here on bloomberg tv. best of luck for the rest of your day. ♪ francine: defending the devaluation. the people's bank of china tries to calm nerves about the yuan. manus: scores of people are killed as two blasts rock a chemical storage site -- at chinese. bailout blues. greek mp's vote on a third bailout today. germany says the plan is incomplete and refuses to back it. all this as we wait for what are expected to be depressing greek grow
manus: they would like to see a slow drift. they sort of yankton into sixth gear and ripped up the highway. jonathan: soothing words from the people's bank of china. manus, thank you very much. these are the numbers that matter. gdp. a.m. u.k. time, greek 12:30.ting minutes at , the --ail sales economist have not been proved yet with a number that shows a real improvement. that number comes that 1:30 p.m. u.k. time. a two day route that touched almost everything, equities rebounding here in...
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Aug 11, 2015
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manus: if i had many are another two seconds you would've seen the entire floor crew operating. chinese personified it amazingly which is to have your cake and eat it. have they joined the currency wars? that is what we will drill into in the pulse. street manage over $2 billion trade simon derrick will join us from bank of new york. he will reflect back on is it ? ally such a big move jon: given the appreciation pro but -- probably not. manus: you can bring in these big thinkers in terms of, is it a one off? is it a big move? will there be more. it opens up some and more questions. i find the irony beautiful that they would not dare think are with the you one as that might adjust how the imf perceives them and then you have a host of people sweeping through this morning -- but enough of currency. to nollywood. being theubbed as gentleman who set up the netflix of africa in his country. jon: looking forward to that. that is it for me. i am on twitter. best of luck for the rest of your day. â
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Aug 3, 2015
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manus cranny, over to you. inus: european stocks put probably one of the best weeks in the months of july that we seem since february. the rally is 1.5% over the space of july despite the fact that this market was closed. it is anybody's guess. there is an exchange rate in the united states of america. hans will take you through that. that exchange rate problem was down over 17% in the hiatus. will they go for a ban on short sales? those are some of the questions we are asking. china, factory orders at a five-month low. what will the preemptive policy be? what impact will it have on european markets. european equities are going to be more profitable than the united states for the first time since 2008. earnings will rise just under 7%. that is up from just under 5%. u.s. wages rose at this lowest pace since 1982. what does that do for the debate about whether you get a september lift off from the fed in terms of raising rates or december? harris is opening flat. london is down by an eighth. you've got billy rea
manus cranny, over to you. inus: european stocks put probably one of the best weeks in the months of july that we seem since february. the rally is 1.5% over the space of july despite the fact that this market was closed. it is anybody's guess. there is an exchange rate in the united states of america. hans will take you through that. that exchange rate problem was down over 17% in the hiatus. will they go for a ban on short sales? those are some of the questions we are asking. china, factory...
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Aug 10, 2015
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manus cranny, what is coming up? manus: 39. i'm going to talk about china. we have eric nielsen coming in from unicredit to discuss what is this chinese form of qe. realize my newt acronym of the day, state owned enterprises. are you really going to believe the data in terms of the synergies that can be accessed by putting major tanker companies together? it is whether qe works, putting money into the system via local lending without rate cuts. we are going to drill down a little bit on that. also, what happens next in greece? of,ills me with the spirit i suppose, togetherness. this is not going to work. you have to ask yourself, why are the imf getting on board if they are actually saying the bailout for greece, before it is even signed, isn't going to work? we are going to turn over those two themes. then we've got kevin daly coming in to talk about emerging markets. r hasbtedly, what fische got to say -- jonathan: really looking forward to that. manus: and alan greenspan. wonderful piece on bloomberg terminal today talks about the last rate hike cycle in
manus cranny, what is coming up? manus: 39. i'm going to talk about china. we have eric nielsen coming in from unicredit to discuss what is this chinese form of qe. realize my newt acronym of the day, state owned enterprises. are you really going to believe the data in terms of the synergies that can be accessed by putting major tanker companies together? it is whether qe works, putting money into the system via local lending without rate cuts. we are going to drill down a little bit on that....
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Aug 27, 2015
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manus: is it a good value? we will take anything anywhere. jackson hole begins and there is a wonderful five-year, five-year, five-year. the wonderful outlook is at a five-year low. the fed does not have an inflation program there below target. what will stanley fischer say on saturday? i like the fact that you brought in the context of what we have lost. equivalent to what has actually happened in china. the act -- argument would be that the correlation is utterly and entirely irrelevant over it was mathematically irrelevant. i have to say that word for markets because this was made up by 80% of domestic investors. everybody is just looking for a reason to sell these markets. another when should be installed forget they have been cutting rates since november. when you look what the united withs is doing, do you go this idea that the window for the fed just shut hard? manus: in his view piece this morning he writes that the fed should not and will not come to the rescue of equity markets and
manus: is it a good value? we will take anything anywhere. jackson hole begins and there is a wonderful five-year, five-year, five-year. the wonderful outlook is at a five-year low. the fed does not have an inflation program there below target. what will stanley fischer say on saturday? i like the fact that you brought in the context of what we have lost. equivalent to what has actually happened in china. the act -- argument would be that the correlation is utterly and entirely irrelevant over...
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Aug 12, 2015
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manus: and i'm manus cranny.
manus: and i'm manus cranny.
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Aug 4, 2015
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manus cranny joins us. manus: it is fascinating, the story. the value of greece banks. how do you recapitalize them. a great note yesterday. how much capital the banks might need around the 5 billion euros. you need to get it done before christmas. unsecured depositors are also protected. our that really that many left in greece? for the polls, cars, banks and do not do anything wrong in london. we have david green. this is a man whose agency brought the case against hayes and one. --hayes and won. there are some incredible quotes. go to my twitter account. " -- there are 12 quotes. get to go to my twitter account or fran's twitter account or yours. jonathan: what is manus cranny's view of global markets? twitter selling off. apple. there are red lights all over it. manus: i watch video just today of various guesses in the states . we have one who says -- he will be up to give us the global view of a banking. global view of how the world looks at him. he is -- this point trades robert. -- trades rubber. his view is more relevant. i think we have more basis covered. the
manus cranny joins us. manus: it is fascinating, the story. the value of greece banks. how do you recapitalize them. a great note yesterday. how much capital the banks might need around the 5 billion euros. you need to get it done before christmas. unsecured depositors are also protected. our that really that many left in greece? for the polls, cars, banks and do not do anything wrong in london. we have david green. this is a man whose agency brought the case against hayes and one. --hayes and...
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Aug 26, 2015
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manus: it was quite incredible. you played those various voices, talking about volatility in value. whether you have the tolerance to take that volatility. we are down to short-term trading, which is more than eight hours at any one time. it's a question of how much they were forced to divest versus how much risk do you want to take on a day-to-day basis. ,e have stephen gallo coming in along with michael metcalf. is are yoution there looking at a political crisis in china, an economic crisis in china? what is it that the markets need to see coming from china which will sate the view that they have got a grip on their economic downturn? or is it that markets are merely pressing the slowdown. bang, slap, wallop. now you have policy and removed from these lows. jonathan: it's remarkable. you have a market route, then a policy response that looks like panic, that there is a severe problem, the whole idea that we are approaching a point of political crisis -- that is the extreme. but when you lo
manus: it was quite incredible. you played those various voices, talking about volatility in value. whether you have the tolerance to take that volatility. we are down to short-term trading, which is more than eight hours at any one time. it's a question of how much they were forced to divest versus how much risk do you want to take on a day-to-day basis. ,e have stephen gallo coming in along with michael metcalf. is are yoution there looking at a political crisis in china, an economic crisis...
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Aug 17, 2015
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what is manus is that's what is manus's? and he doesn't have the tv. there you go. i am mark barton. the pulse is up next. his partner, francine lacqua. i will see you tomorrow. ♪ francine: angela merkel makes the case for a greek dale in her first comments since euro area ministers were agreed on an aid package. manus: abe under pressure. the japanese economy goes negative as consumers and businesses cut spending. francine: and gold loses its shine as the precious metal's price falls. fall.gold sees its profit welcome to "the pulse"
what is manus is that's what is manus's? and he doesn't have the tv. there you go. i am mark barton. the pulse is up next. his partner, francine lacqua. i will see you tomorrow. ♪ francine: angela merkel makes the case for a greek dale in her first comments since euro area ministers were agreed on an aid package. manus: abe under pressure. the japanese economy goes negative as consumers and businesses cut spending. francine: and gold loses its shine as the precious metal's price falls....
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Aug 28, 2015
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manus: focus on france. exclusive interview the economy minister says he will keep an eye on china slowed down but insists it will not threaten his country's recovery. francine: let the good times roll. data shows consumer confidence at a 15 year high in the u.k.
manus: focus on france. exclusive interview the economy minister says he will keep an eye on china slowed down but insists it will not threaten his country's recovery. francine: let the good times roll. data shows consumer confidence at a 15 year high in the u.k.
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Aug 24, 2015
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in 15 seconds, manus cranny and francine. best of luck for the rest of the day. ♪ this is a great place to work. not because they have yoga meetings and a juice bar. because they're getting comcast business internet. comcast business offers convenient installation appointments that work around your schedule. and it takes- done. - about an hour. get reliable internet that's up to five times faster than dsl from the phone company. call 800-501-6000 to switch today. perks are nice. but the best thing you can give your business is comcast business. comcast business. built for business. francine: of the equities bloodbath deepens. the dax nearing a bear market. thes: chinese stocks slump lowest since 2007. south african index falling to the most in five years. crude dropsent below $45. a 16 year low. ♪ francine: welcome to the "the pulse."
in 15 seconds, manus cranny and francine. best of luck for the rest of the day. ♪ this is a great place to work. not because they have yoga meetings and a juice bar. because they're getting comcast business internet. comcast business offers convenient installation appointments that work around your schedule. and it takes- done. - about an hour. get reliable internet that's up to five times faster than dsl from the phone company. call 800-501-6000 to switch today. perks are nice. but the best...
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Aug 14, 2015
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manus: i liked the chart you had on the yuan. it puts in perspective. i wonder about all the commentators that have said don't worry about it. it is a radical overhaul in terms of what you want to do with your currency. jonathan: it is historic. manus: it is historic. we got andrew sheets coming in from morgan stanley. we've got the piece out this morning that you can pick up written by sonia -- by svenja o'donnell. this is a former trader who runs a site who runs the -- who predicted the tories would be runaway leadership in the election. yn maysaying that corb not be the shoe in he thinks. join us for that. got periscope. is it toast? that is the question. jonathan: manus cranny and francine lacqua coming up after the break. i will bring you this data as well. italian gdp at the top of the hour. then, at 10:00 u.k. time, eurozone gdp. we will get u.s. industrial production data as well. that is it from me. ♪ . francine: vote for a third bailout package. will request a confidence vote. anchor: growth in france stagnates. germany expands. rancine: gro
manus: i liked the chart you had on the yuan. it puts in perspective. i wonder about all the commentators that have said don't worry about it. it is a radical overhaul in terms of what you want to do with your currency. jonathan: it is historic. manus: it is historic. we got andrew sheets coming in from morgan stanley. we've got the piece out this morning that you can pick up written by sonia -- by svenja o'donnell. this is a former trader who runs a site who runs the -- who predicted the...
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Aug 19, 2015
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brendan: manus cranny joins us from oslo. i would argue that he missed a third thing, the very real possibility that in the next two years the norwegian government could take money out of the sovereign wealth fund and start putting it into the general budget. that is a big issue. the inflows of foreign money into the sovereign wealth fund are way below the norm here they picked up a little bit in this quarter, but that is a huge political issue. when you fly into oslo, you begin to understand that this is a heck of a wealthy country. was, we are to me not going to make radical moves, we do not move radically. we are a sovereign wealth fund, so we will make incremental changes, but no radical change when it comes to $50 oil. i love the line that he used, which is the transfer of risk. you have equity market volatility, and that has gone into foreign exchange market. the foreign exchange market volatility was front and center in the conversation, and he talked about emerging markets and china. brendan: in just a second we will
brendan: manus cranny joins us from oslo. i would argue that he missed a third thing, the very real possibility that in the next two years the norwegian government could take money out of the sovereign wealth fund and start putting it into the general budget. that is a big issue. the inflows of foreign money into the sovereign wealth fund are way below the norm here they picked up a little bit in this quarter, but that is a huge political issue. when you fly into oslo, you begin to understand...
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Aug 17, 2015
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pimm: all right, thanks very much, manus cranny. coming up, we will take you to pebble beach where people are bidding on the most expensive automobiles in the world. and could tesla be working on its own uber business? we will tell you about it. and jason day's record-setting win.hampionship after years of injury and personal challenges, the newralian golfer sets a record. yes, 20 under par. let's look at gold. gold prices down since january, miners are struggling to cut cost. in quÉbec, above the 52nd parallel, the largest company in -- gold company in north america has built a new old mine -- gold mine from scratch. danielle bochove has more. ofielle: there is no sign human presence, at least from the air. there were no roads. at there was no airstrip. minds.ere no just what you start with a camp and trailers, and is exploration continues, you need more people and equipment. it's just a continuing challenge. danielle: it takes a lot to build a mine in canada. it always has. infrastructure and environment are always considerations
pimm: all right, thanks very much, manus cranny. coming up, we will take you to pebble beach where people are bidding on the most expensive automobiles in the world. and could tesla be working on its own uber business? we will tell you about it. and jason day's record-setting win.hampionship after years of injury and personal challenges, the newralian golfer sets a record. yes, 20 under par. let's look at gold. gold prices down since january, miners are struggling to cut cost. in quÉbec, above...
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Aug 31, 2015
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let's bring in manus cranny. is the most month important jobs number ever but it is a little bit important. manus: it is, it is, it is. another reason to validate stanley fischer's comments. he said he would not assuage the market of their assumption. they will play out a little bit earlier. the fed have gone from the -- 24 hours i should say. -- wirp, whichis is world interest rate probabilities. it comes down to the train you should be on. they say they are not worried about oil. i will talk to my guest in regard to oil and the dollar and rates. indian's barclays economy with us he will talk of india. for me it comes down to the most mishandled, misrepresented, cac ca id -- cac candid -- ckhanded, dysfunctional intervention -- that is china. jon: best of luck for the rest of your day. ♪ frenzythe volatility continues with global stopped set for their worst month in more than three years. that comes as federal reserve officials refused to rule out raising interest rates next month. september is still on the ta
let's bring in manus cranny. is the most month important jobs number ever but it is a little bit important. manus: it is, it is, it is. another reason to validate stanley fischer's comments. he said he would not assuage the market of their assumption. they will play out a little bit earlier. the fed have gone from the -- 24 hours i should say. -- wirp, whichis is world interest rate probabilities. it comes down to the train you should be on. they say they are not worried about oil. i will talk...
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Aug 5, 2015
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manus: the dollar climbs to a four-month high. the central bank is close to raising rates next month here at francine: moving its magic, disney shares fall after hours. >> we can fix it. we just have to get back to headquarters. ♪
manus: the dollar climbs to a four-month high. the central bank is close to raising rates next month here at francine: moving its magic, disney shares fall after hours. >> we can fix it. we just have to get back to headquarters. ♪
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Aug 20, 2015
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manus: european nations ratified the bailout. francine: the emerging markets rout defense as stocks had for their lowest close since 2009. welcome to "the pulse." i'm francine lacqua.
manus: european nations ratified the bailout. francine: the emerging markets rout defense as stocks had for their lowest close since 2009. welcome to "the pulse." i'm francine lacqua.
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Aug 23, 2015
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for this week's magazine and man raju covers the call pain for politico m manu i want to start with you you covered immigration wars on the hill. when donald trump talked about the good people who were here illegally coming back in. won't that be seen as amnesty? >> that will be opening to some of the folks pushing trying to regain their -- get notice. >> dickerson: what's interesting, too how ted cruz is trying to show immigration hard liner in this. as donald trump has dominated the debate on immigration. you heard ted cruz talk about legislation that he introduced. things that actually sounded a lot like the donald trump plan. donald trump has with dominating the narrative on immigration it shows just how much ted cruz has been hurt by donald trump in this debate. in this race. a lot of key party supporters, those folks evangelicals who support -- should support at the time cruz are flocking to donald trump. you see all these candidates recalibrate their position based on what donald trump has been saying on the campaign trail. immigration is one of those issues. >> dickerson: like t
for this week's magazine and man raju covers the call pain for politico m manu i want to start with you you covered immigration wars on the hill. when donald trump talked about the good people who were here illegally coming back in. won't that be seen as amnesty? >> that will be opening to some of the folks pushing trying to regain their -- get notice. >> dickerson: what's interesting, too how ted cruz is trying to show immigration hard liner in this. as donald trump has dominated...
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Aug 26, 2015
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people have offered to buy the manu patio but he says he just wants to move on from the ordeal. >> a flash mob of teachers interrupted a presentation. they had a rendition of le miserables' one day more. >> ♪ >> the par are the included lyrics about the teach's final day before students arrived for class. the audience at west des moines high roared with surprise. >> a gang of trucks bring traffic out toast a standstill police are looking for the people who were driving them. >> a deadly crash on a south jersey highway. details about that up ahead at 5:00 a.m. yeah, i'm married. does it matter? you'd do that for me? really? yeah i'd like that. who are you talking to? uh, it's jake from state farm. sounds like a really good deal. jake from state farm, at three in the morning? who is this? it's jake from state farm. what are you wearing jake from state farm? uh, khakis. she sounds hideous. well, she's a guy so... another reason more people stay with state farm. get to a better state. >> ♪ >> "action news." delaware valley's leading news program. with matt o'donnell, tamala edwards,
people have offered to buy the manu patio but he says he just wants to move on from the ordeal. >> a flash mob of teachers interrupted a presentation. they had a rendition of le miserables' one day more. >> ♪ >> the par are the included lyrics about the teach's final day before students arrived for class. the audience at west des moines high roared with surprise. >> a gang of trucks bring traffic out toast a standstill police are looking for the people who were driving...
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Aug 3, 2015
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wheat in the world - the shortage that happened five or six years ago, where there was riots in haiti, manu factured to see if they could chrome the prices. the idea -- control the pricest prooizes. the idea that they'd save us from starvation, food shortages, africa on the bridge of not having good. na -- brink of not having food. that's not true. look at the g.m.o.s. there's no technology. they are fighting a labelling system that in europe they are not fighting >>> labelling and banning o labelling? >> there's no downside to labelling, you arrived the question how many know what g.m.o.s are, if that's the case, the people that do know and care, and are researching this, they deserve to look through the ingredients and know what they are consuming and the americans that don't know and continue to consume a lot of junk, they'll ignore it. they are not losing anything by having the information available to them. the companies behind the lobbying. they are concerned about the labelling appearsful they are the only ones with a downside for profit, for people that care about the condition. >>
wheat in the world - the shortage that happened five or six years ago, where there was riots in haiti, manu factured to see if they could chrome the prices. the idea -- control the pricest prooizes. the idea that they'd save us from starvation, food shortages, africa on the bridge of not having good. na -- brink of not having food. that's not true. look at the g.m.o.s. there's no technology. they are fighting a labelling system that in europe they are not fighting >>> labelling and...
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Aug 17, 2015
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to manus let's go cranny in london for a check of european markets. results on the chinese full or us down with the data you just released. we have a mixed position. the u.s. manufacturing and data as exhibit of a shine off it. lower than a 30 day average. on board, that is the message we are hearing for bailout number three for greece. depositors will get a free ticket. depositors in greece, that is good news for you. bondholder, senior that is a different story. beware. that is where the risk is in the big market. a couple of interesting names i will frame for you in terms of stocks and positions. this is the european company that ge may well get a hand on the energy business and assets in new york. that is what they want to hear. alstom -- --and on they get their hand on alstom? airbus had a big order today. you are talking about an order from indigo. 250 new planes. $26 billion. julie: let's take a look at what is going on in the u.s. stock market today. a couple of economic reports showing conflicting items about the u.s. economy. manufacturing i
to manus let's go cranny in london for a check of european markets. results on the chinese full or us down with the data you just released. we have a mixed position. the u.s. manufacturing and data as exhibit of a shine off it. lower than a 30 day average. on board, that is the message we are hearing for bailout number three for greece. depositors will get a free ticket. depositors in greece, that is good news for you. bondholder, senior that is a different story. beware. that is where the risk...
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Aug 18, 2015
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